whitepapers, case studies and more

Singapore Fact Sheet - Talent Intelligence Outlook 2016

Issue link: https://insights.randstadsourceright.com/i/766077

Contents of this Issue


Page 0 of 1

TALENT MANAGEMENT ROBOTICS Ro TALENT FLEXIBILITY Tf ARTIFICIAL INTELLIGENCE WORKFORCE STRATEGIES Ws TALENT INNOVATION Ti RESOURCING STRATEGIES Rs RECRUITMENT R CONTINGENT WORKFORCE Cw WORKFORCE MANAGEMENT Wm WORKFORCE MANAGEMENT Wm MANAGED SERVICES PROGRAM MsP CONTINGENT TALENT Ct CANDIDATE EXPERIENCE Ce AUTOMATION Au GIG WORKERS Gw TECHNOLOGY TOOLKIT Tt TECHNOLOGY TOOLKIT Tt CAREER TRANSITION SERVICES CtS STATEMENT OF WORK SoW SUPPLIER MANAGEMENT Sm VENDOR MANAGEMENT SYSTEM VmS HUMAN INTELLIGENCE Hi PREDICTIVE ANALYTICS Pa EMPLOYER VALUE PROPOSITION EvP TALENT CONSULTANCY Tc www.randstadsourceright.com talent intelligence outlook: Singapore facts Hiring remains strong in Singapore, but talent scarcity not a critical concern among human capital leaders Although small, Singapore represents an important talent hub in the Asia Pacific region, with many companies headquartered or maintaining a regional presence here. As a result, many of the respondents to our Talent Intelligence Outlook survey provided an outlook not only for the small country of five million but also for their businesses throughout the area. They reported that in the past 12 months, anticipatory hiring was strong, with 42% engaging in hiring activity to support expected growth. Looking ahead to 2017, that activity will grow, with 54% of respondents predicting more hiring. Their optimistic outlook was based on positive business outcomes in the past 12 months, with 92% saying results were either better than expected or on target. Furthermore, 67% believe growth will be either more significant or slightly better in the next 12 months. Singaporean human capital leaders know they face challenges when it comes to finding talent, so it's no surprise that three-quarters have an expansive view of talent, meaning they believe the right resource can be any type (permanent or contingent) and that it could be located anywhere (locally or virtually). The same percentage believes digital resources will open up opportunities, while a slightly higher percentage believe technology will lead to smarter recruiting decisions. What were the most sought-after skills? Nearly half hired for positions in finance and accounting, while 44% looked for sales professionals. The same percentage hired IT/technical and general management workers. Notably, 43% also shifted more jobs in sales, general management and contact centers from permanent status to contingent, perhaps as a result of higher business demand. This strategic move may also explain why human capital leaders here didn't perceive talent scarcity as much of an issue, with only 37% believing it is a top concern. Three takeaways • Singapore has a high percentage of expatriates, so talent mobility is critical to ensuring a robust workforce. • Recent government efforts to restrict immigration may have a long-term impact on the movement of talent into Singapore. Growing its own workforce would reduce its need to source talent from other countries. • A healthy business outlook bodes well for the rest of the Asia Pacific region as many of the companies headquartered here are regional and global entities. Technology, digital resources and talent flexibility among key HR enablers for Singaporeans DRIVERS MOST OFTEN CITED AS INFLUENTIAL TO HR TRENDS MOST OFTEN CITED AS A TOP DRIVER TO THE BUSINESS 60% 60% 56% Automation, robotics and digitalization are having a profound impact on how organizations here operate Automation/ machine learning Digitalization of HR Robotics 78% 75% 75% Technology helps make smarter hiring decisions Digital resources open opportunities Right person could come from anywhere

Articles in this issue

Links on this page

view archives of whitepapers, case studies and more - Singapore Fact Sheet - Talent Intelligence Outlook 2016